Indiana Code 36-1-8-16. Property taxes collected for property disposed by county executive
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Sec. 16. (a) Except as provided in subsection (e), if a county executive disposes of real property, the property taxes collected for each item of the real property in the first year the item of real property is subject to taxation after the year the real property is sold or otherwise conveyed shall be disbursed to the county executive that sold or otherwise conveyed the item of real property.
(c) The county executive shall forward a copy of each resolution that disposes or otherwise conveys real property to the county auditor.
(b) Disbursements to the county executive under subsection (a) shall be deposited into the county general fund, the redevelopment fund, the unsafe building fund, or the housing trust fund and shall be used only for one (1) or more of the purposes authorized under IC 36-7-14-22.5 or IC 36-7-15.1-15.5.
Terms Used In Indiana Code 36-1-8-16
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(d) The disbursement of property taxes under subsection (a) shall terminate in the second year the item of real property is subject to taxation after the property is sold or otherwise conveyed.
(e) This section does not apply to real property to which IC 6-1.1-47 applies.
As added by P.L.169-2006, SEC.47. Amended by P.L.110-2017, SEC.3.